A tight labor market demands a holistic approach to team-building. It’s not just about finding the best job candidates. You also need to get the most out of the team members you already have on staff. Upskilling can represent a key aspect of this effort, letting you tap into the full potential of your current employees.
Learning and development programs have become popular for companies of all sizes. In recent months, investment in upskilling has become imperative to many companies. This increased commitment to ongoing education has become a necessary investment.
The Benefits of Upskilling
Before committing time and resources to an upskilling program, it’s important to understand how your organization will benefit. With that in mind, here are a few upsides you can expect from following this strategy:
Build a Leadership Bench
Finding great leaders is always a challenge. How about creating them instead? By upskilling your employees, you give yourself great internal options when it comes time to fill higher-level positions in your organization.
Fuel Productivity Gains
Upskilling lets you drive long-term improvement. At the same time, you’ll experience near-term upside as well. By mastering new techniques, your employees can finish their assigned tasks more efficiently, leading to higher productivity.
Statistics underline this value. One survey of CEOs found that 93% of business leaders saw improved productivity after the implementation of an upskilling program.
Higher Retention
We understand the worry. You’ll invest in upskilling your employee, only to see them jump ship as soon as they have a more marketable skill set. Someone else will benefit from your education effort.
However, the typical dynamics are somewhat different. Your team members will appreciate the upskilling program, as it gives them the time and resources necessary to push their careers forward. As such, the program helps you build long-term bonds. In the same CEO survey quoted earlier, 93% of leaders also reported improved talent acquisition and retention associated with upskilling.
Easier Hiring
The presence of an upskilling program represents a critical selling point for ambitious talent. As you recruit, you can spotlight your educational efforts as a way to attract the best candidates.
Improved Culture
An investment in upskilling has a broader impact. By showcasing your commitment to long-term development, you set an example that your employees will follow on their own time. The process makes learning and development a key part of your overall culture. This creates a multiplier effect that will lead to accelerated improvement.
How to Implement a Strong Upskilling Program
If you’ve decided that an upskilling program represents the right direction for your firm, you still have significant decisions to make. You need to determine the best course for delivering your ongoing education. Here are some steps to consider as you look to ramp up your offerings:
- Identify the Skills You Need: Create upskilling priorities, spotlighting the abilities that will help your organization the most.
- Talk to Your Employees: Involve your employees in every step of the process, giving them input on the direction of the upskilling efforts.
- Communicate the Program’s Value: Increase buy-in by detailing the long-term upside of participating in these programs.
- Go in Stages: Deliver the upskilling in chunks. Even incremental upgrades can lead to big improvements over time.
Want to Find the Employees That Can Make Your Business Even More Valuable?
Upskilling becomes even more valuable when you have ambitious and curious employees. A top recruiter, like Elby Professional Services, can connect you with the ideal candidates for your open positions.
Contact Elby today to upgrade your team-building efforts.
